8. A) Form verbs from the following nouns:
Interest, mention, exchange, credit, import, export, decrease, increase, output.
b) Form nouns from the following verbs:
To cost, to own, to press, to low, to celebrate, to evaluate, to allocate, to estimate.
9. Checking facts and ideas.
The concept of liquidity underlies in the measuring of money supply.
Barter is a modern form of the society existing.
A medium of exchange means that money can serve as a way of exchanging without using barter.
Any thing can realize the function of money.
Money determines the real value of things.
We can define money as currency.
10. Complete the sentences. Rearrange them to get a summary.
A measure of how quickly an item can be converted to cash is a…
To measure the money supply, we measure the…
Money makes it possible for us to hold onto the value over time, they serve as a…
When money helps to think of different things in term of common value base, they serve as…
When people can exchange two items without using barter, money serves as…
We can’t define money as a…
Money can exist in different…
A means of paying for the goods and services individuals need and want we call…
11. Single out the main points of the text. Use the following opening phrases:
The text looks at (the problem of…)
The text deals with the issue of..
It is clear from the text that…
Among other things the text raises the issue of…
The problem of…is of great importance
One of the main points to be singled out is
Great importance is also attached to…
In this connection, I’d like to say…
It further says that…
I find the question of…very important because…
We shouldn’t forget that…
I think that…should be mentioned here as a very important…mechanism of… .
12. Divide the text into logical parts and give them titles.
13. Imagine that you are a vice-president of the bank. Think, please, what can you do with money and describe the situation of using money. Use the scheme.
Money held in trust гроші, які знаходяться у довірчому управлінні
Money in circulation гроші у обігу
To borrow/change/create money позичати/ міняти/ створювати гроші
To draw money from an account знімати гроші з рахунку
To raise money знаходити гроші
To redeem money вилучати гроші з обігу
To refund money відшкодовувати гроші
To remit money переводити гроші
To withdraw money вилучати гроші
14. A) Fill in each gap with a suitable word from the box.
b) Sum up the text in 5-7 sentences and present your summary in class.
coin |
known |
invented |
handle |
forms |
small |
using |
big |
used |
objects |
|
instruments |
called |
assets |
|
|
What Is Money?
Money is an asset that serves as a means of payment, a store of value, and a unit of account. Money was…… a long time ago.Gold and silver coins are the best……form of money.
They have the longest history and have been more widely accepted as payment than any other form of commodity money.
The popularity and universal acceptability of……..money is easy to understand. Coins are solid, attractive, hard-wearing and easy to ……. In addition to the qualities mentioned above, coins can be produced in ……..and ……denominations.
Societies ….. gold and silver have used other …… as money, including shells, beads and pelts. Anything can serve as that is easily recognized, widely accepted, and not easily copied. Gold, shells, and pelts are no longer used as money in the majority of countries.
Today two kinds of financial……..serve as money: currency (coins and bills) and checking deposits at banks and thrift institutions.
Currency plus checking deposits at banks and thrifts is often…… Ml. The money that includes balances in money market funds, savings deposits in banks and thrifts and certain other liquid…….. is called M2.
Along with coins, paper currency, and checking deposits, "plastic money" is widely……….today. Plastic money" comes in two…… - credit cards and debit cards.
Words you may need:
asset n (зд.) інструмент
means of payment n засіб сплати
store of value засіб збереження
unit of account розрахункова одиниця
commodity money товар посередник у ролі грошей (наприклад, сіль, хутро)
solid adj (зд.) міцний
hard-wearing adj який не зношується
denomination n вартість (грошей)
shell n раковина
bead n бусина
pelt n шкіра
checking deposit вклад на поточному рахунку
Ml грошовий агрегат Ml
М2 грошовий агрегат М2